APA (NASDAQ:APA) Price Target Cut to $28.00

by · The Markets Daily

APA (NASDAQ:APA – Free Report) had its price target cut by Bernstein Bank from $30.00 to $28.00 in a research report report published on Friday.

A number of other brokerages have also recently commented on APA. Barclays lowered their target price on APA from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Piper Sandler decreased their price objective on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Wells Fargo & Company cut their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. UBS Group decreased their price target on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of APA in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, APA has an average rating of “Hold” and an average price target of $34.18.

Check Out Our Latest Research Report on APA

APA Trading Down 0.2 %

NASDAQ:APA opened at $25.11 on Friday. APA has a 52-week low of $22.72 and a 52-week high of $41.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $26.43 and a 200-day simple moving average of $29.02. The company has a market capitalization of $9.32 billion, a PE ratio of 2.81 and a beta of 3.23.

APA (NASDAQ:APA – Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities research analysts expect that APA will post 3.97 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Hedge Funds Weigh In On APA

A number of hedge funds have recently made changes to their positions in the business. American National Bank raised its holdings in shares of APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after buying an additional 490 shares during the period. Covestor Ltd increased its position in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC acquired a new position in APA in the second quarter worth $42,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after buying an additional 1,590 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About APA

(Get Free Report)

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.

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